What approaches can be taken to obtain robust market data for decision-making in rare diseases where physician and patient sample sizes are small?
At the EphMRA Meeting 2018 in Basel, Switzerland, we demonstrated the value of Multi Criteria Decision Analysis (MCDA) in making business decisions in highly specialized areas, such as MedTech, orphan diseases or other niche areas where only small sample sizes are available.
The MCDA is a decision-support tool that facilitates decision-making involving multiple dimensions or criteria. It is a systematic approach with flexibility of incorporating both qualitative and quantitative data, handling very small sample sizes, and integrating self-explicated conjoint in evaluating the various decision scenarios and options. Our comparative assessment shows the evaluation of a traditional market landscaping and TPP testing study vs the market landscaping and TPP testing study using the MCDA versus a traditional conjoint study.
Not only did we show the pros and cons of the MCDA approach, we also addressed the added value and applicability of this approach may bring for decision makers in the area of MedTech, orphan diseases and or other niche areas.
Date and time: Tuesday, 6 Nov 2018 at 13.40 – 14.20